SPCG Public Company Limited (SPCG) announced its 2024 operating results, reporting revenue from sales and services of 2,049.2 million baht and a net profit of 746.8 million baht. The company plans to pay a second-half dividend of 0.70 baht per share, bringing the total annual dividend to 1.20 baht per share. This reflects SPCG’s strong financial position, high dividend yields, and a low debt-to-equity ratio. The company remains confident in future revenue and profit generation from its solar farm projects, even after the expiration of the Adder period, as electricity sales will continue as usual.
Dr. Wandee Kuncharayakong Juljarern, Chairman and CEO of SPCG, disclosed the company’s Q4 2024 performance, which showed sustained revenue and profit from solar farm operations. The quarter generated revenue from sales and services of 455.2 million baht and a net profit of 127.8 million baht.
For the full year, SPCG produced and distributed 372.5 million units of electricity, generating revenue of 2,049.2 million baht and a net profit of 746.8 million baht. This represents a decline from the previous year’s revenue of 4,125.6 million baht and net profit of 1,973.9 million baht. The drop is due to the expiration of the 8-baht per unit Adder subsidy for 36 solar farm projects and a slowdown in rooftop solar installation revenue. However, SPCG remains capable of generating consistent revenue and profit despite the absence of the Adder.
Following its solid 2024 performance, SPCG’s board of directors, in a meeting on February 21, 2025, approved a dividend of 1.20 baht per share, totaling 1,266,948,000 million baht. This represents a 14.90% return based on SPCG’s closing share price of 8.05 baht on February 21, 2025. An interim dividend of 0.50 baht per share was already paid for the first half of 2024, leaving 0.70 baht per share for this period. The XD mark is set for March 11, 2025, and the dividend will be distributed on May 16, 2025, subject to approval at the 2025 annual general meeting of shareholders.
The Chairman and Managing Director of SPCG said that the company is confident that its business potential will be able to generate income and profit consistently. At present, there are 36 solar power generation and distribution projects in operation in 10 provinces of Thailand, such as Nakhon Ratchasima, Khon Kaen, Sakon Nakhon, Nakhon Phanom, Buriram, etc., with a total installed capacity of 260 megawatts (MW), including income from the solar roof installation business for residential houses, offices, small – large business buildings , industrial plants, and others.
SPCG’s Chairman and Managing Director expressed confidence in the company’s ability to generate consistent revenue and profit. Currently, SPCG operates 36 solar power projects across 10 provinces in Thailand, including Nakhon Ratchasima, Khon Kaen, and Buriram, with a total installed capacity of 260 MW. The company also earns from solar roof installations for homes, businesses, and industries.
Despite a slowdown in performance last year, SPCG maintains a strong financial position with a low debt-to-equity ratio of 0.01 times at the end of 2024. With strong cash flow, the company continues to pay regular dividends and offers high yields to investor.
